SLIGHTLY lower demand for platinum was outpaced by a significant drop in supply from South African miners to push the platinum market into deficit last year, according to Johnson Matthey’s annual platinum review.
WHILE raising capital has never been tougher, one Scandinavian-focused Australian junior may have found the right formula to ride out the storm.
A SECONDARY listing on the Oslo Stock Exchange is on the cards for emerging copper-magnetite company Avalon Minerals as work on its Viscaria project in Sweden tracks towards the ambitious targets set by management last year.
LONDON investment bank VSA Capital has reiterated its BUY recommendation for Canadian-listed Rathdowney Resources and slapped a $C1.28 per share target price on the junior development group, following excellent metallurgical results from the Olza project in Poland early this week.
This week at PDAC, EMED Mining was due to host bureaucrats from the autonomous Spanish community of Andalucía for an industry reception as part of the government’s campaign to attract a new wave of mineral explorers and developers to the region. Such an evening with such guests and such an agenda could not have been further from reality five years ago.
MAJOR economic woes have pushed the issue of ‘strategic’ metals supply into the background. The annual ‘Endangered Elements’ shortlist published by global chemicals and metals manufacturer, American Elements, has attempted to bring what is a long-term problem needing immediate action, back into focus.
THE scoping work for Berkeley Resources’ Salamanca project in Spain suggests it has the potential to be a more than solid development proposition. But the one major obstacle at present is certainly significant.
THE pieces continue to fall into place for London-listed copper developer EMED Mining, which this week secured the final slice of finance needed for the long-awaited restart at its historic Proyecto Rio Tinto (PRT) mine in Andalucia, Spain.
NOVEMBER 19: ‘STANDING room only’ at the Talga Resources’ AGM in Perth last week, and while that was a small joke by the Talga chairman (it was a small room!), this company will indeed need a much bigger venue for shareholders in future years if the very impressive graphite story it claims to have on its hands in Sweden unfolds as planned.
OCTOBER 30: GETTING back a profitable result from an independent first pass study on a possible mine development must feel pretty damn good. Receiving a major permit for a project in ‘NIMBY’-Europe must feel equally satisfying. So how did Euromax Resources feel last week when it was told its Ilovitza project in Macedonia could produce more than 250,000 million ounces of gold per annum at industry low operating costs and had also cleared its major permitting hurdle?
IT MAY not turn out to be another Black October but anyone who dared hope that recent action in the US and Europe would have a lasting effect on mining equities and commodities is likely to be disappointed.
SEPTEMBER 3: CASH reserves and secure finance facilities will protect otherwise vulnerable London-listed iron juniors that are not long into production against the current environment of unexpectedly low iron ore prices.
CLARITY of message underpinned by a viable strategy would seem key factors needed for success in the resources equity space. Avalon Minerals would appear to have both, as well as a third important foundation for success, excellence of execution.
A MATERIAL increase in the resource at Alacer Gold’s Copler project in Turkey is anticipated this quarter after exploration results released earlier this month showed significant results for much of the drilling undertaken since the current 7.3 million ounce resource was announced back in February.
TORONTO-listed Carpathian Gold has reached a critical point in the evolution of its Rovina Valley gold-copper project in Romania, having been asked to submit key documents needed for the conversion of the exploration licence to a full mining licence. But while the company would be pleased with its progress on the ground, it is unlikely to get any traction in the market until the full permitting process is complete.
THE takeover of European Goldfields by Eldorado Gold early this year hasn’t stopped the former’s management team from trying to establish a stand-alone European gold producer. That team is largely intact and is pouring all its expertise, along with a mountain of personal wealth, into EGoldfields look-alike, EurOmax Resources.
EMED Mining has overcome one of the last remaining obstacles in front of its planned restart at the Proyecto Rio Tinto copper mine in Spain by signing a deal with landowners over the planned site for tailings deposition.
AFTER years of back and forth, the Andalusia Government finally passed the approval process for the Proyecto Rio Tinto copper project over to the people last month, with the release of the restart’s environmental impact statement for public comment. If a chronically unemployed public continues its longstanding support, this 30-day process should help smooth the way forward for EMED Mining to receive its final approvals in September.
DISAPPOINTING second quarter production from the Talvivaara nickel operation in Finland, the latest in a string of below par numbers, has proven too much for one London investment bank, which has slapped a Sell rating on the equity and recommended its clients “avoid this stock until a turn-around is demonstrated”.
AIM-listed Ortac Resources has reinforced its in-country presence at its Sturec gold-silver project in Slovakia by hiring home-grown investment and development expert, Viktor Pomichal, as its managing director in Slovakia.